INSUBCONTINENT EXCLUSIVE:
Turns out, September is a challenging month for market participants as domestic stock indices put up their worst monthly show since February
The velocity of the correction was huge
The 30-share BSE Sensex lost a whopping 2,417.93 points, or 6.26 per cent, during the month while the NSE Nifty gave up 750 points, or 6.42
The source of the fall this month has been a fall in the rupee, surging oil prices and liquidity concerns that kept the bulls at bay
Investors were doubly cautious ahead of the RBI policy meeting next week
Investor wealth as measured by market capitalisation of BSE-listed firms slipped by Rs 14.50 lakh crore to Rs 144.86 lakh crore on
September 28, from Rs 159.35 lakh crore on August 31
In select stocks, the plunge in fact was sharp
As many as 66 scrips of the BSE500 fell anywhere between 25 per cent and 75 per cent in September.
Infibeam Avenues took a severe blow, down
74.21 per cent, followed by Dewan Housing Finance (down 58 per cent), YES Bank (down 47 per cent), Jaiprakash Associates (down 45 per cent),
Indiabulls Real Estate (down 42 per cent), 8K Miles (down 41 per cent) and SREI Infrastructure Finance and Central Bank of India (down 40
practices.
On the other hand, DCM Shriram, Deepak Nitrite, Biocon, Wipro, ABB India and LT Infotech gained over 5 per cent during the
liquidity support by the apex bank and other related agencies
The continuous fall in NBFC and banking counters is adding to that pressure
We reiterate our view to reduce position on bounce and waiting for
further clarity
You should find the valuation multiple comfortable, given the near term and longer term growth projections for that company -- be it an NBFC
are paying in terms of valuation multiples
